Human wealth is
A) the present discounted value of expected future after-tax labor income.
B) the sum of financial and housing wealth.
C) the discounted present value of all financial assets.
D) financial wealth minus housing wealth.
E) total wealth minus housing wealth.
A
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
The most commonly traded product (by value) in recent years has been
A) petroluem. B) wheat. C) televisions, stereos, and VCRs. D) automobiles.
Which of the following is most likely to lead to an increase in the demand for U.S. dollars in the foreign exchange market?
a. U.S. firms purchasing raw materials from Japan b. U.S. speculators expecting the value of the German mark to rise c. The Fed intervening in the foreign exchange market and devaluing the dollar d. Speculative outflows of money from the United States to Britain because of higher interest rates in Britain e. Japanese cars becoming more popular in the United States
At the current price of a good, Jessica's consumer surplus equals 12, Lauren's consumer surplus equals 14, and Isabel's consumer surplus is 4. By perfect discrimination, a monopolist could increase his profit by
A) 4. B) 12. C) 16. D) 30.